The training was organized by the joint project of the Central Bank of the Republic of Uzbekistan and the United Nations Development Programme Support to Microfinance Sector Development, GTZ Assistance to Microfinance Sector Development in Central Asia project and National Association of Microfinance Organizations and Credit Unions (NAMOCU).

Nowadays, one of the most significant obstacles to establishing a sustainable and transparent microfinance sector worldwide is the deficit of accurate and reliable financial data on the performance of MFIs. Overcoming such data deficit and establishing productive networking and cooperation between MFIs and investors, as well as the remaining participants of microfinance sector such as public and private foundations, MFI networks, raters and evaluators, and governmental and regulatory agencies, is quite a challenging task. It is necessary to note, that the given data deficit very often becomes an obstacle to the establishment of long-term relationships between MFIs and potential donors, information exchange between them, and in fact, the limits the growth of investment.

Therefore, with an aim to overcome such data deficit in microfinance sector, and bring together MFIs and potential donors, a global electronic platform called MIX Market was launched (www.mixmarket.org). The platform serves to stimulate the growth of microfinance sector through provision of accurate information to the sector actors and a public at large on MFIs worldwide, private and public funds investing in MFIs, microfinance networks, raters and evaluators, as well as on regulatory institutions. MIX Market assists to the establishment of transparent information market linking MFIs worldwide with potential investors, thus promoting greater investment and information flows. Currently, MIX Market provides data, such as general information, contacts, financial indicators, as well as the results of audit and rating of more than 1400 MFIs, over 100 investors and almost 200 partners. Besides, MIX Market provides a wide range of instruments, including, an actual statistics on the global microfinance sector, coparative analyses based on regions and countries, trend analyses, as well as the opportunity of performance benchmarking.

The experts of MIX Market collect data on microfinance institutions (MFIs) worldwide, and thoroughly review the data, ensuring it is accurate and up-to-date. All the data including the results of an audit and ratings are double checked, and standardized according to internationally accepted accounting and audit standards, thus enabling a more comprehensive intra-regional comparison.

In fact, the platform grants access to credible and accurate information on MFIs, which complies with international standards, thus promoting the growth of trust and investment. On the other hand, active participation in MIX Market and provision of timely and accurate data, grants a significant networking opportunity for MFIs, and enables them to attract potential donors and investors, obtain access to useful informational resources, as well as get the exposure to the worlds best microfinance practice.

Today, out of 103 credit unions and 32 microcredit organizations officially registered in Uzbekistan, only 5 have their profiles listed on MIX Market and are actively utilizing tools offered by the platform. Considering the actuality of the platform, and its contribution to the growth of the microfinance sector, it is crucial to conduct initiatives on aimed at familiarizing MFIs across Uzbekistan with MIX Market, benefits and costs of reporting in MIX Market, as well as with the way to create and update MFI profiles. In addition, it is necessary to emphasize the role of MIX Market in helping the MFIs to attract the potential donors and investors, as well as in establishing long-term partnerships.

Therefore, within the framework of the initiative to strengthen the capacity of MFIs in Uzbekistan and create a sustainable system of microcredit organization, the UNDP Support to Microfinance Sector Development Project and GTZ Assistance to Microfinance Sector Development in Central Asia regional project made a decision to conduct a training on financial reporting to MIX Market. The particular training familiarized the participants with the essential information on MIX Market, with the opportunities of placing a profile on MIX Market, networking, as well as conducting comparative and trends analyses. A particular attention was paid to conducting intra-regional comparative analysis, and conducting performance benchmarking analysis.

The training was conducted in an interactive manner, and the participants had the opportunity to work in MIX Market platform, as well as complete practical exercises on MFI profile creation.